Taking Losses | The Millionaire Table Academy

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The CAR Business

WELCOME STUDENT ORIENTATION

Student Orientation
Meet your instructor
Updates

THE CAR BUSINESS

Getting Started
Proper Business setup (22:18)
The Good and the Bad
Taking Losses
Leveraging Credit to Cash flow

CAR DEALERSHIP

Different Licenses
Licensing requirements
Systems
Bank account and Forms of payment
Fees you can expect
Sales Paperwork: Documents you need to have
Processing Titles, Tags and registration
The $10k Cash rule
Monthly Sales Tax

CAR BUSINESS FUNDAMENTALS

How to get auction access without being a dealer
Auction Access/Auction Training
Live Auction Bidding Online
How to check cars & Avoid Lemons
MRR vs Retail
Blind Bidding/Quick Checks
Tools for success
Cars that sale
Car Flipping vs Auto Broker
Things to know
Where to list cars for sale

Protecting your business and assets

Overview
Responding to Presuit threats
How to respond to a certified demand
How to win chargebacks and disputes
Importance of releases
COURTESY REPAIR RELEASE (Use if you help with repairs)
WAIVER OF REMAINING BALANCE RELEASE(Use if you waive balance to resolve issue)
NONCARDHOLDER CARD AUTH (use this when customer is using someone elses card)

FINANCING

Bank in-house financing vs Buy Here Pay Here
Cash Deals
Outside Financing

CAR RENTALS

Business setup & Licensing requirements
Platforms to list your cars
Self Service and Private Car rentals
Rental Fleet Insurance
Daily rental Coverage for customers

Expanding your business

Hiring Salesmen
Marketing
Offering Warranties
Proper Networking (dealers, tow, etc)
Paying yourself and employees

UNTIL NEXT TIME MILLIONAIRES!

FAREWELL FROM STAR

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Taking Losses

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